Pfizer slides on news of no pregabalin filing in 2002

MichaelBaron

Pfizer
PFE, -0.10%
is losing 95 cents, or 3 percent, to $30.98, after the company said that it would not submit an application for pregabalin, an proposed epilepsy and anxiety drug treatment, to the Food and Drug Administration this year. The New York-based pharmaceutical giant expects to submit an application in Europe in March of 2003 and then follow that with a submission in the U.S. "This short delay will allow us to amplify the submission with requested toxicological mechanistic studies," said Peter Corr, the company's senior vice president, science and technology, in a press release. "We are confident pregabalin will meet all necessary testing requirements, and the additional studies, we believe, will enhance the review process and subsequent approval for the drug."

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